Tax exemption for charitable institutions granted subject to application of income, permitted investments, recordkeeping and dissolution rules. Notification grants tax exemption to West Bengal Council for Child Welfare, Kolkata for assessment years 2003-2004 to 2005-2006 subject to conditions: apply or accumulate income exclusively to its objects; invest or hold funds only in permitted forms or investment modes consistent with statutory provisions; exemption excludes business profits unless incidental and separately accounted; regularly file income-tax returns; and on dissolution transfer surplus assets to a like charitable organisation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exemption for charitable institutions granted subject to application of income, permitted investments, recordkeeping and dissolution rules.
Notification grants tax exemption to West Bengal Council for Child Welfare, Kolkata for assessment years 2003-2004 to 2005-2006 subject to conditions: apply or accumulate income exclusively to its objects; invest or hold funds only in permitted forms or investment modes consistent with statutory provisions; exemption excludes business profits unless incidental and separately accounted; regularly file income-tax returns; and on dissolution transfer surplus assets to a like charitable organisation.
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